In Singapore, priority (VIP) banking and private banking are two tiers. Per banks’ public info, priority thresholds are about S$200k–350k, while private banking runs from S$1.5M to US$25M. In short, priority is “dedicated RM + standard products”; private banking is “private banker + bespoke solutions”.
💡 Lucy’s tip: Property, cross-border capital and succession often need the higher tier. Many UHNW clients do private banking + family office + property together.
Comparison (per banks’ public info)
| Item | Priority (VIP) | Private Bank |
|---|---|---|
| Threshold | ~S$200k–350k | S$1.5M – US$25M |
| Service | Dedicated RM | One-to-one private banker team |
| Products | Standard funds, insurance | Bespoke, structured, private markets, financing |
| Extras | Priority service, FX perks | Succession, cross-border tax, trust |
| For | Mass affluent | HNW / UHNW |
Reference thresholds
Priority: DBS Treasures ~S$350k, UOB Privilege ~S$350k, OCBC Premier ~S$200k — see opening an account.
Private: DBS Private Bank from ~S$1.5M; SC Priority Private ~S$1.5M; Citi/JP Morgan ~US$25M. Non-resident foreigners: US$2M–5M, strict source-of-wealth docs, ~2–3 months, often by introduction.
Linked to property
Private banks often offer cross-border mortgages and asset-backed financing — key for large purchases and cash management.
Summary
- Priority: S$200k–350k, standard service.
- Private: S$1.5M to US$25M, bespoke.
- Contact Lucy to pick the right tier and connect property financing.
⚠️ Thresholds and services as per each bank’s latest terms.